Barely a week after it set another record high, the Dow just suffered its worst one-day loss in its entire history.
While the latest turmoil hasn’t reached the crisis level by any means, I’ve been warning about a correction for months.
Warnings about an imminent collapse of developed economy stock markets, especially the U.S. markets, have been everywhere.
Whether you use Shiller’s CAPE ratio, Warren Buffett’s preferred market-cap-to-GDP ratio, or traditional P/E ratios, markets were overpriced and ready to fall. Of course, that did not mean they would fall anytime soon, or on anyone’s timetable.
As we saw in the dot.com bubble of 1996-2000, and the housing bubble of 2002-2007, so-called “irrational exuberance” can last longer than the skeptics believe. However, some warnings perhaps deserve more attention than others.
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7 comments:
Some of us made a few bucks, selling on the way down and buying at the bottom.
Most stocks were sold for bonds since we'll likely see a Federal Interest rate increase to manage inflation. As usual, just ride it out.
Pigs get fat, hogs get slaughtered.
2:47 surrrrrre you did
This is a fake market. Totally manipulated by the Plunge Protection Team.
I suggest you read some of the excellent commentaries on King World News.
A guy suggested it to me a couple of years ago and I am glad he did. The writers on that site are extremely sharp and experienced. According to most of those contributors the Stock Exchange, COMEX, and FOREX are all rigged.
Might want to 'take some profits' while you can. Once the Bonds start to collapse, it will be too late.
Also recommend Greg Hunter on Youtube.
I recommend you stop putting your faith into conspiracy theory hacks. Thanks so much for your "enlightenment". I think I'll continue to accrue wealth.
6:26 PM - As of the closing bell, a profit of $164.80, minus the $15 to make the sells and buys. I told you that it was a little.
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